
Thai Government Plans to Launch $150 Million Digital Investment Tokens
Thailand's Ministry of Finance will introduce its G-Token within two months to raise capital and potentially offer higher returns than traditional bank deposits.
Thailand’s Ministry of Finance is set to issue 5 billion baht (approximately $150 million) in digital investment tokens, known as the G-Token, within a two-month timeframe. This initiative aims to raise funds from the public and is part of a budget borrowing strategy.
Finance Minister Pichai Chunhavajira stated, “Investors will earn higher returns than banks’ deposits” during a briefing on Tuesday.
The offering is intended to ’test the market’, according to Chunhavajira, who also mentioned that it would allow investors to participate with a minimal cash investment.
In the current financial landscape, banks in Thailand are offering interest rates on deposits between 1.25% and 1.5%, which is below the central bank’s policy rate of 1.75%. This move reflects Thailand’s ongoing efforts to enhance its approach to cryptocurrency. Over the last year, the country has implemented a tax exemption for cryptocurrency earnings and has added stablecoins like USDC and USDT to its list of approved currencies for digital exchanges.
This article was originally reported by Bloomberg.